Fin24

Altech cleans house at struggling unit

2011-09-29 16:42

Johannesburg - Allied Technologies [JSE:ALT] has sacked some senior managers at its Kenyan data business, a day after the company blamed a drop in first-half profit on the unit’s poor performance.

“We replaced inefficient management at KDN (Kenya Data Networks), and the executive management team at Altech responsible for the East Africa region has been beefed up to get the East Africa business back on track,” Altech CEO Craig Venter told Reuters.
 
“Our operations in East Africa will be rectified. East Africa is still our growth engine.”

He did not give details of how many managers he had let go nor what positions they held. One user on the microblogging website Twitter said as many as 13 senior managers had been sacked.

Johannesburg-listed Altech, an investment holding company in the telecommunications, multi-media and information technology sectors in Africa and abroad, reported a 24% decline in first-half headline earnings per share on Wednesday, citing poor performance at its Kenya business.